Top Business Ideas for Women Entrepreneurs of 2020
Motivated women entrepreneurs can also struggle while deciding on the right business idea. For some new entrepreneurs, ideas flow freely but never work. For others, ideas are vague so are never fully explored. If you want to be a successful entrepreneur, the road to your success is the right business idea. If you want to become self-employed but are not sure what type of business you want to start, remember number of business ideas for women are plenty. You can start a small scale manufacturing business or think big. In this blog, we have listed some business ideas. Consider the following points and select a business that best suits your finances, time and education.
- What you need out of the business?
- What do you like to do?
- What are you good at?
- What would you like to learn?
What you need out of the business?
This question leads to questions like – are you looking for a second income, are you quitting a job to stay at home with your children or do you want to contribute something to society or do you want to be an entrepreneur?
What do you like to do?
Choose something you are passionate about. Starting your own business will require a lot of time, energy, and even sacrifice.
What are you good at?
Your talents might be obvious to you if you are a musician, artist, or photographer thus you already have a profession. And maybe you have a hobby, like candle making, painting or quilting that you know you could market. You just need to identify your skills.
What would you like to learn?
Sometimes things that interest us most are things we have to learn yet. It is just never too late to learn a new skill or polish an old one you have, and it is never too late to start a business if you have an ambition, or a marketable skill.
Business ideas for Women
Once you have made up your mind that you want to your start business and you are still thinking of what to do, just checkout the list. Maybe it helps you decide better. These are the top small business ideas for women:
- Affiliate Marketing
- Freelance Writing
- Social media influencer
- Sell on Amazon
- Life Coach
- Owning Rental Properties
- Social Media Manager
- Travel Agent
- Interior Designer
- Food service business
- Stock trading
- Daycare centre
- Home-based hobby classes
- Fitness trainer
- Wedding planning
- Health care for the elderly
- Soap making
- Teach or Tutor
- Cake Making Business
- Event planner
Let’s discuss each business so that you can take the right decision carefully.
Blogging is one of the most suitable business ideas for women at home. The good part is that you can work for flexible hours as per your wish. You just need is to build a website and write articles about anything you like.
Once you become able to bring enough visitors every month, you’ll start earning. People actually get paid to do this and it’s a great idea. You can start a blog depending on the interest you have like food blogging, travel blogging, beauty blogging, photography blogging and child care blogging etc. Bloggers make USD 1,000 and USD 10,000 a month.
#2. Affiliate Marketing
Affiliate marketing is an advertising performance-based marketing in which a company compensates third-party publishers to generate traffic or leads to the company’s products and services. The third-party affiliate simply searches for a product, then promotes that product and earns a piece of the profit from each sale the company makes. These days affiliate marketing is one of the most popular ways by which people make money online and it can be a passive income once established. Affiliate Marketing can fetch you more than USD 50,000 a year.
#3. Freelance Writing
Freelance writing is the practice of writing for money while working on one’s own and not being employed by a company or organization. Freelance writers create written text that is needed by their clients, either working from home or from a rental office space. Most freelance writers charge depending on the amount of work they will have to put into the project. However, the way they bill for the contents its average range will vary. A freelance writer’s salary ranges somewhere from USD 24,000 to USD 115,000 a year.
A proofreader ensures that written content is free of any typographical, grammatical, spelling, punctuation, syntax, formatting errors. The proofreader uses his judgement, skill, knowledge and experience in checking that the work of author, editor and designer/typesetter is satisfactory, marking amendments. People want to be sure and confident that their important text is error-free, and find it worth choosing a professional proofreader. A proofreader can make between USD 25 to USD 44 per hour.
Bookkeeping is the recording of any financial transactions, and is part of the process of accounting in any business. Transactions include purchases, sales, receipts, and payments by an individual person or an organization/corporation. The bookkeeper brings the books to the trial balance stage: an accountant may prepare the income statement and balance sheet using the trial balance and ledgers prepared by the bookkeeper. Bookkeepers receive USD 54,000 per year or more.
#6. Social media influencer
A Social Media Influencer is a user on any social media who has established credibility in a specific industry. A social media influencer has access to a large number of audiences and can persuade others by virtue of their authenticity and reach.
They achieve this by maintaining an active online presence on social media networks such as Facebook, Twitter, Instagram, YouTube, and various blogs. Social influencer earn on an average USD 1,000 per 100,000 followers.
#7. Sell on Amazon
Amazon is a platform where anyone can open an online shop. Even though it feels like a complicated thing to do, it is straightforward and simple. You can find good deals on products at offline or physical stores and resell them on Amazon for a higher price. Revenues from online sales have continued to grow significantly. Amazon sellers make approximately USD 10 million a year.
#8. Life Coach
Do you enjoy helping people? If yes, then you might be interested in becoming a life coach. The stress everyone experiences day to day can be heavy to bear. For some people, the burdens become extremely heavy on the head, sometimes enough to cause serious emotional issues.
You can help people through life coaching. If you are a certified life coach you can make more money. As a life coach, you can charge in the range of USD 70 to USD 260.
A transcription is a document created by typing everything that is heard from either an audio or video. There is more than one way to transcribe audio or video content and there are a variety of reasons why you might want a transcription of the document. Typically, transcription for subtitling work is much more time intensive, as the time-codes must be logged in hours: minutes: seconds: frames, and the transcriber will need to allow enough time for the viewer to read each subtitle on screen. A transcriptionist generally earns around USD 15 per hour.
#10. Owning Rental Properties
Passive income from rental properties is a cool business idea. Rental properties include house, cars, furniture, air conditions, crockery, quilts, party chairs, repair work machinery, party supplies, Electronics etc. It’s better if you choose products that you feel interested in.
If you love photography, it is something that can pay you off significantly. You can get started by buying a camera and accessories. When you get into the business, you’ll have to build a portfolio. You can do photographs at weddings, celebrations, party, and other special occasions. Use social media to let more people know about your photography. You can your submit your pictures to magazines or upload images on online sites and get paid. Professional photographers earn about USD 28,000 per year
#12. Social Media Manager
Social media managers are in charge of representing a company across all the social channels. They respond to comments and create content. These experts provide guidance to enhance an organization’s online presence. Nearly every business has recognized the awesome value and benefit in social media marketing thus opening large number of options for you. Social Media Manager earns an average salary of about USD 63,294 per year.
#13. Travel Agent
Consider working as a Travel Agent. A travel agency is a private retailer that provides travel and tourism related services to the general public on behalf of suppliers. Travel agencies can provide outdoor recreation activities, airlines, car rentals, cruise lines, hotels, railways, travel insurance, package tours, insurance, guide books, public transport timetables, and car rental services. The salary ranges from USD 29,000 to USD 58,000 a year, but it all depends on experience and number of clients. You can either start your own business or work for any agency.
#14. Interior Designer
If you are a creative person and would love to decorate rooms, interior designing could be a profitable business idea for you. Interior designers make indoor spaces functional and beautiful. The interior designer determines space requirements and selects essential and decorative items, such as colors, lighting, and materials. They must be able to draw, read blueprints. You can have a location-based office where you will be able to talk to your clients, show them your sample book fabrics, and sample work. The average salary for an interior designer is around USD 51,000 per year.
#15. Food service business
One of the most suitable businesses for women is a food service business. If you love to cook, no one can stop you from becoming a food entrepreneur. All you need is space for cooking and serving if you are not planning to have a mobile food service. You can cook anything that has demand. Food trucks, carts, and kiosks are popular these days. You can also plan something for Nutrition-conscious customers by procuring fresh and locally sourced food with low fats. Food service managers earn about USD 54,000 per year.
#16. Stock trading
Someone who buys and sells stock shares is the one who is a stock trader. Trading for a living means you should consistently be profitable and draw an income from your profits at the same time. The stock market is built around the concept of connecting buyers and sellers who wish to trade shares of companies. Stock traders report annual incomes ranging from USD 42,000 to USD 132,000.
#17. Daycare Center
Daycare Center is also called nursery, nursery school and is an institution that provides supervision and care of infants and young children during the daytime, so that their parents can hold jobs. If you love children, this is a great opportunity to start an in-home childcare business. The amount you can make varies on location but you could charge USD 30 a day which turns out to USD 600 a month each child. You can opt for a single day fee, weekly fee or monthly fee. You should hire an on role nurse and also register yourself with a hospital in case of a mishap.
#18. Home-based hobby classes
One of the best parts of starting a home business is the ability to turn something you love into your career. You will be able to spend your days doing something you really enjoy while making a living. It could be any hobby like teaching how to cook or how to decorate pots or even painting or jewelry making. You will need to invest as per your plan. Do all cost analysis and learn how much money you need to get started. Set your goals and plan how to market your business.
#19. Fitness trainer
Many people exercise to keep themselves healthy. If you’re an exercise enthusiast, becoming a fitness trainer could a satisfying career for you. It is a great business idea for women. You not only earn money but also keep yourself healthy. You will need a degree, certification and some experience before taking a step to be self-employed as a personal trainer. At the beginning of your exercise sessions, you won’t earn big money. But as soon as you find a good number of students, you’ll start getting sponsorship too. Hourly rates of a fitness trainer range from USD 10 to USD 50 an hour.
#20. Wedding planning
Wedding planning is a popular and exciting filed. But this business may require experience and good startup capital. To get your own business started you will require a number of employees. The weddings may involve different traditions for which you and your team will have to create and manage the timeline. Once you have a few contracts on your portfolio, you will be able to get more and more wedding events to plan. You can add on to your clients list by publishing your portfolio online. A Wedding Planner on an average earns USD 41,076 per year.
#21. Health care for the elderly
You can do this yourself or alternatively, you can recruit help of some trustworthy friends. Senior citizens often require someone to take care. Sometimes, they just need companions to talk and gossip or help around the house. Consequently, elderly people look for care-givers and daytime companions. Advertise your services in the local community.
#22. Soap making
Organic products are the new norm of living. As shelf space of organic product has increased, people are confused about what is authentic and what isn’t. So the best thing to do is learn the process of soap making and get started. Building a part-time or full-time business takes time. It also takes money. A clear plan is essential for success as a soap making entrepreneur. Certain state permits and licenses are likely needed to operate a handmade soap business, just remember to procure them. Soapmaker makers earn USD 22,000 to USD 38,000 a year.
#23. Teach or Tutor
Teaching is another home-based business idea for moms. If you teach a group of students at your home, you’ll charge less and will then need to get a good number of students to make a decent income. However, if you choose home tuitions, you’ll charge high and you can earn sufficient money from a couple of students. You can also think of online tutoring. It is an extremely trending business idea and many teachers opt it over traditional teaching. Online tutoring is easy to start as you can join popular online tutoring sites. The average annual salary of tutor is USD 46,000.
#24. Cake Making
If you are a smart cook and just love baking then cake making is your business idea to work on. You can easily excel in the food industry if you have made up your mind. The demand of cakes usually increases on special occasions, like Halloween and Christmas. So, you can earn big money on such occasions. The good part is that the cake demand will not fall during off season as there will be birthdays every month, it can guarantee you a steady income throughout the year. A baker earns about USD 25,000 annually.
#25. Event planner
Individuals often lack expertise and time to plan events themselves. This problem has a simple answer. Independent event planners can step in and give these special events the attention they deserve. It could be official events or just a birthday party. Broadly speaking, there are two markets for event planning services: corporate and social. You may start with smaller local events. Consider a degree or certificate from a local university in event planning or management. An event planner earns about USD 25 per hour.
Did you find anything that interests you? Choose from any of these innovative small business ideas that you love. The entrepreneurs should first look at their passion and skills. So you should, focus on your skills and the type of things you enjoy doing. This can be an excellent chance for you to come up with great business ideas. Match your skill or passion with any one or more of these to create the opportunity that is best for you. Being your own boss gives you freedom of choice and the ability to juggle your commitments.
Starting and running a business often does require lots of financial investment, but it also requires a significant time and energy. Banks and financial institutions are often willing to micro-finance women. If you do not have the funds for launching your own venture, you may approach these lenders. It is never late to learn a new skill or polish an old one, and it is never too late to start a business if you have the skill, ambition and know what you want to do. So just Get Set Go.
Top Women Entrepreneurs of 2020
Appy Pie brings you the list of successful women entrepreneurs, who you can follow on twitter. These business women have their own stories to narrate.
Melanie Perkins is the co-founder and CEO of Canva. Melanie a technology entrepreneur is one of the youngest female CEO to be leading a tech startup.
Audrey Gelman is an American businessperson. She is the founder of The Wing, a women co-working space and social club founded in New York City in 2016.
Trish Costello is a Silicon Valley-based entrepreneur and investor. She is the Founder and CEO of Portfolia, a collaborative equity investing platform.
Rachel Shechtman is an entrepreneur and a fourth-generation retailer, who founded Story, a physical retail marketing experience.
Kendra Scott is an American fashion designer. She is the chairman, lead designer, and CEO of Kendra Scott, LLC.
Payal Kadakia is the co-founder & Executive Chairman of ClassPass, an American company which provides access to yoga, strength training, barre, martial arts, pilates, boxing, and indoor cycling.
Arielle Noa Charnas is an American fashion blogger, influencer, and designer. She is started the blog and Instagram account Something Navy, launched in 2009.
Shelly Bell is a Serial Entrepreneur & Computer Scientist. She is a system disruptor and business strategist, who moves ideas to profit while empowering people to live more authentically.
Neha Narkhede is the co-founder and chief technology officer of Confluent and co-creator of Apache Kafka. She is also a Globetrotter, Wannabe photographer.